Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Maryland proposes refundable cybersecurity tax credit and higher vendor caps to boost Buy Maryland program
Summary
Department of Commerce officials and industry back HB 290, which would make Maryland’s cybersecurity tax credit refundable, eliminate the 50‑employee buyer cap, raise seller revenue eligibility from $5M to $10M, and increase per‑seller buyer claims from $200K to $1M; proponents say the changes aim to increase modest historical uptake.
Chair Janelle Wilkins opened the Ways and Means hearing on House Bill 290, a departmental bill the administration says will expand use of the Buy Maryland cybersecurity tax credit.
Maryland Secretary of Commerce Harry Coker testified in support, saying the program, established in 2018, has been “a modest success” but remains underused. He told the committee that “each year, an average of 38 buyers are awarded about $444,000 in credits” and that around $3,000,000 in credits have been issued over the life of the program despite an annual cap of $4,000,000. “We can do better,” Coker said, summarizing the bill’s goals.
HB 290 would make the credit refundable so nonprofits and entities without income tax liability could receive cash refunds; remove the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
